HEB Group declares 1.46 sen dividend after posting record earnings in FY24
PETALING JAYA: Engineering and project management consultant HSS Engineers Bhd (HEB Group) declared a final single-tier dividend of 1.46 sen per share in respect of the financial year ended Dec 31, 2024 (FY24), compared to 1.21 sen per share paid out in the previous year (FY23).
The FY24 dividend payout is estimated at RM7.4 million or about 30% of profit after tax (PAT), in line with the dividend policy targeted at 30% of annual PAT, subject to approval by shareholders at the group's annual general meeting on June 11.
The dividend payment reflects the group's impressive financial results, with net profit increasing 23% to a record high of RM25.2 million in FY24 from RM20.4 million in FY23. The improved performance was fuelled by the group's expanding presence in international markets and deepening involvement in emerging sectors.
Executive vice-chairman Tan Sri Kuna Sittampalam said: 'We are glad to reward our shareholders with higher dividends as we reap growing financial gains from our rising regional presence and diversified sector coverage. The historic net profit reflects the strength of our adept engineering services, deployed to transformational projects across various industries and countries.'
Looking ahead, he said they aim to sustain their earnings momentum.
'We look forward to reprising our prominent role in transportation and water-related projects while accelerating our involvement in data centres, artificial intelligence-powered drone solutions, and renewable energy,' he said.
As at Dec 31, 2024, the group's order book stood at RM2.1 billion and will be billed progressively over the next eight years. The order book, the biggest in the group's history, includes new contract wins in FY24 amounting to over RM900 million across various sectors and countries.
Notable wins last year include Westports 2 Expansion Development Phase 1, two new data centre projects in Johor, the Phnom Penh-Bavet Highway in Cambodia and the group's largest-ever contract – the Baghdad Metro project in Iraq's capital.
The group is actively pursuing more opportunities in the infrastructure sector, with a tender book of RM504 million worth of projects across the domains of highways, roads, rail, ports, water infrastructure, data centres, and renewable energy.
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